The Supervisory Board of JSC "NAEK "Energoatom" has appointed a new chairman during its meeting. The position has been filled by Jarek Neverovich, a former Minister of Energy of Lithuania and the chief advisor to the Lithuanian president on environmental and infrastructure issues.
This was reported by the company’s press service.
Michael Elliott Kirts has been elected as the deputy chairman of the Supervisory Board; he will also lead the newly established Audit Committee. Kirts is the founder and director of EuroAtlantic Partners and has previously held leadership roles at Westinghouse Electric Company.
“Given the absence of a third independent member on the Supervisory Board, it is anticipated that decisions regarding the establishment of the Nomination Committee and the Remuneration Committee will be made as soon as the Supervisory Board receives the appropriate legal opinions,” the announcement states.
According to the order from the Cabinet of Ministers dated June 21, 2024, Timothy Stone was to become the third independent member of the Supervisory Board. As reported by Forbes Ukraine, he declined to sign the contract but is considering the possibility of becoming an advisor. Stone is the chairman of the UK Nuclear Industry Association and the insurance company Nuclear Risk Insurers. He has also served as an independent director of Horizon.
The meeting was supposed to take place 30 days after the formation of the Supervisory Board in June of last year. One reason for the delay was discussions regarding the compensation level for board members. The Cabinet refused to approve the agreed salary of 400,000 UAH per month discussed during the interviews and proposed 100,000 UAH instead. According to one of the company’s top managers, they agreed on an average market salary.
In addition to the three independent foreign members, the Supervisory Board includes two representatives of the state: former head of the State Agency for Management of the Exclusion Zone Vitaliy Petruk and former Minister of Economic Development, Trade and Agriculture, and president of the Kyiv School of Economics, Tymofiy Milovanov.